New York State Teachers Retirement System Decreases Stock Holdings in Avnet, Inc. (NASDAQ:AVT)

New York State Teachers Retirement System lowered its stake in shares of Avnet, Inc. (NASDAQ:AVT) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,669 shares of the company’s stock after selling 560 shares during the period. New York State Teachers Retirement System owned about 0.13% of Avnet worth $5,843,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. boosted its holdings in Avnet by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 4,538 shares of the company’s stock worth $246,000 after buying an additional 222 shares in the last quarter. Highland Capital Management LLC raised its position in Avnet by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 4,234 shares of the company’s stock worth $222,000 after acquiring an additional 261 shares during the last quarter. GAMMA Investing LLC raised its position in Avnet by 18.6% during the fourth quarter. GAMMA Investing LLC now owns 2,177 shares of the company’s stock worth $114,000 after acquiring an additional 341 shares during the last quarter. State of Alaska Department of Revenue raised its position in Avnet by 0.9% during the third quarter. State of Alaska Department of Revenue now owns 53,232 shares of the company’s stock worth $2,890,000 after acquiring an additional 455 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its position in Avnet by 6.0% during the third quarter. Nations Financial Group Inc. IA ADV now owns 8,656 shares of the company’s stock worth $470,000 after acquiring an additional 487 shares during the last quarter. Hedge funds and other institutional investors own 95.78% of the company’s stock.

Avnet Stock Performance

NASDAQ:AVT opened at $52.53 on Thursday. The firm has a 50 day simple moving average of $52.28 and a 200-day simple moving average of $53.25. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.15. The firm has a market cap of $4.54 billion, a PE ratio of 14.88, a P/E/G ratio of 1.12 and a beta of 1.13. Avnet, Inc. has a 1-year low of $44.42 and a 1-year high of $59.24.

Avnet (NASDAQ:AVT) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.01). Avnet had a net margin of 1.41% and a return on equity of 7.49%. On average, equities analysts expect that Avnet, Inc. will post 3.41 EPS for the current year.

Wall Street Analysts Forecast Growth

AVT has been the subject of a number of research reports. Truist Financial cut their target price on shares of Avnet from $54.00 to $52.00 and set a “hold” rating for the company in a research report on Thursday, January 30th. Bank of America cut shares of Avnet from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $58.00 to $48.00 in a research report on Thursday, January 30th.

Avnet Company Profile

Avnet, Inc, distributes electronic component technology. The company operates through two segments, Electronic Components and Farnell. The Electronic Components segment markets, sells, and distributes semiconductors; interconnect, passive, and electromechanical components; and other integrated components from electronic component manufacturers.